Wednesday, March 23, 2011

Forbes' List Of Young Millionaires

These entrepreneurs, interviewed by Forbes over the last three years, started launching businesses by the tender age of 9. Some of them identified problems and created companies to solve them, while others turned their hobbies into money-making ventures. Some teamed up with friends, parents and mentors; others plowed ahead on their own. To qualify for this round-up, the kids had to have cracked $1 million in revenue before college graduation and by age 22 (or be on track to do so), or had to have received funding that valued their operations at $1 million or more.

jasonbrian.jpg Autocricket
In the summer of 2008, after his high school graduation, Jason Brian started working in the marketing department of a South Florida car dealership. He knew the future of marketing was on the Web. "With half of the money, I found that I could double the results," by buying online ads and using search engine optimization techniques, he recalls. Three years later, at age 21, Brian spent "less than $10,000" of his savings to build a website that would help consumers look for cars. made money by selling customers' information to dealers and manufacturers, which could market to customers directly. Six months after launch the site attracted the attention of two entrepreneurs in Naples, Fla., who invested $250,000. The site generated $1.2 million in revenue in 2009, when Brian was 22. In 2010 it did $6 million.

In 2005, when he was 18, Joshua Dziabiak sold his first company--a Web hosting firm called Mediacatch--for north of $1 million. He bought a Mercedes (in cash) and a flat-screen TV, and used the rest to invest in other companies, including Showclix, his current venture, a website that lets performing arts centers, colleges, live music venues and other outlets sell tickets online, over the phone and at their box offices. In 2009 he raised nearly $1 million, which valued the company at $2.75 million. Showclix collects services fees (usually paid by the ticket buyer) of 7% to 15% of ticket sales. Those fees brought in $9 million last year.

In 2002, when Milun Tesovic was 16, he started a music website as a hobby, compiling lyrics to his favorite songs. Two years later he decided to turn it into a company. Today has a database of lyrics of 2 million songs; it licenses some of them, and others users post on the site for free. The company, now with 20 employees, makes money selling ads, and hit $1 million in revenue in 2007, when Tesovic was 21. Tesovic juggles work with classes at Simon Fraser University in British Columbia, Canada, where he is a business major. "For me education isn't helping me find a career," he says. "It's more about growing myself."

danielgomez.jpg Solben
Twenty-year-old Daniel Gómez Iñiguez launched Solben, a company that designs and manufactures a press that extracts oil from plants to produce diesel fuel. Iñiguez began his R&D in high school. He sold to his first client for $150,000--$75,000 up front to help build the product, followed by $75,000 upon delivery. The Monterrey, Mexico, company brought in "a little over $1 million" in revenue during its first year of business. Today it employs 15 full-time staff; Iñiguez is entering his junior year of college.

Glasses Direct
When 21-year-old university student Jamie Murray Wells attempted to buy a pair of prescription eyeglasses in 2004, he had a vision for a new type of business. Nonplussed by the $300 price tag, Wells decided to leave school and funnel his $2,000 student loan into what would become Glasses Direct, a London-based online retailer. In the first year the company's revenue topped $2 million.
Note: At the time of this writing, in 2010, the company pulled in $5 million in annual revenue, employed 70 people and had raked in $34 million in venture funding.

Dave Hogan/Getty
In 2002, at the age of 14, Fraser Doherty started making jams in his parents' kitchen in Edinburgh, Scotland. By age 16 Doherty left school to work on his jams full time. SuperJam's revenue hit $1.2 million in 2009.
Note: At the time of this writing, in 2010, Doherty remained the company's only full-time employee. Based on a reasonable valuation multiple of one time revenue (jelly maker J.M. Smucker traded between 1 and 1.5 times revenue), Doherty's debt-free stake was worth between $1 million and $2 million.

In 1996 Michael Furdyk, then 16, started, an online computer magazine, in the basement of his parents' home in suburban Toronto. His site was filled with tips and advice Furdyk gleaned in online chat rooms, where he came across fellow teenager Michael Hayman. Hayman, an Australian, moved to Toronto to help build the business. Running lean, the pair bartered for website storage space and office rent. Soon was bringing in $60,000 a month in ad revenue from blue-chip clients like Microsoft.
Note: In 1999 Furdyk, Hayman and a third partner sold the site to for "over $1 million," Furdyk told Forbes in 2010.

Wednesday, February 9, 2011

Article on The Philippine Star

I read this article entitled, Investing In Mutual Funds Results In Huge Earnings, which cites different investors and their earnings over a period of time. It also explains various mutual fund products which suits every investor's needs.

Sunday, February 6, 2011

Meeting P-Noy

What a great way to start the Chinese New Year!  I had the privilege of meeting our President last night.


Financial Blogs I Follow

Here are some of the financial blogs I follow.  I learn so much from them so I thought of sharing them with you!
  1. Ready To Be Rich 
  2. Pinoy Money Talk 
  3. Money Magnets 
  4. EntrePinoy Bank
 Have a good read! :)

Wednesday, January 26, 2011

How To Open A Mutual Fund Account

This entry is in response to Shine’s request on how to start a mutual fund account. 

I can only speak for the mutual fund companies I have invested but the process is almost the same for all.

For Philequity Management Inc. (PEMI), Click LINK

For First Metro Asset Management Inc. (FAMI),  Click LINK

For ALFM (BPI) –Visit any BPI branch and ask about their mutual funds.  They will give your forms to fill-out.  Here are the various ALFM mutual funds, Click LINK

For Philam Asset Management (PAMI), here's the investment procedure.

1.    For Individual or Corporate Accounts:
  • Investor/s fills the following forms:
a.      Investment Application Form (IAF)
b.      Client Information Sheet

  • Investor/s submits a photocopy of any government issued ID.
  • At most, 3 persons can open a joint account
  • For Corporate Account please submit the ff:
1.      Articles of Incorporation & By-Laws
2.      Certificate of Registration
3.      Board Resolution, authorizing the investment
4.      Secretary’s Certificate w/ Specimen Signature
5.      Certificate of Beneficial Ownership

2. Investments can be made through:

CHECK:  Check should be made payable to the fund, i.e.,

        Philam Bond Fund, Inc.
        Philam Fund, Inc.
        Philam Strategic Growth Fund, Inc.,
        Philam Managed Income Fund, Inc.,
        GSIS Mutual Fund, Inc.

(For any out-of-town checks or offshore dollar checks received, booking of investment will be made upon clearance of check).

CASH - For dollar cash notes, please provide a copy of the dollar bill serial number or a photocopy of the dollar bills.

3. For investment coursed through BANKS, deposit amount payable to the fund with the corresponding bank account number.   Please provide PAMI a copy of the deposit slip and fax IAF & Deposit Slip to fax # 813-6813/18 before the cut-off time, 12 noon.  Please indicate name of BDO as recipient.

Note for Faxed Investments:  Original Receipts and Confirmation of Purchase (OR/COP) will be released only after ORIGINAL copies of investment forms and deposit slips have already been submitted to PAMI.

Pia’s Practical Tip #4 On Saving Money

Tip #4:
Auto-deduct your savings or investments on a regular basis (e.g monthly, every payday, etc).

Qualitative Benefit:
  • You are not tempted to spend your money whenever payday comes.
Quantitative Benefit:
  • If you invest Php 1,000.00 per month, you’ll be able to accumulate Php 16,000.00 per year @ 12%.

Friday, January 14, 2011

Goal #1 - Check!

So much good news this week!

I finally issued monthly checks for my mutual fund investment equivalent to 5%! Increasing my long-tern investment of 10% (at present) to 15% is one of my goals for 2011 and it’s already claimed!

I was planning to postpone it until middle part of the year but after reading this article 
entitled 5 Secrets of Successful Savers (click here), I felt I had to do it.

In other words, I had to ACT and MOVE!

Here’s an excerpt from the article:

5 Secrets of Successful Savers

1) They started slowly. Overcoming the initial inertia that prevents many of us from saving is often the hardest step. That's why starting by saving just a small amount can get you on the path towards bigger savings. Nicole Mladic, a 31-year-old communications director in Chicago, couldn't afford to put away a big chunk of her salary when she was in her mid-20s, so she started saving 2 percent. A few months later, she raised it to 3 percent, then went to 4 percent, and eventually reached her goal of 10 percent. Today, her net worth is over $90,000.

It’s a great start indeed!